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So in a nut shell, what is the real history here, and how does it now tie in with Questus and a deal Questus is said to have with EGOH?
That does confirm that it was old news for sure. Thanks.
Something very fishy going on here, I smell a rat, snake, and, or manipulation, or day traders got nervous and all dumped in one minute at the close? Another 1 million shares dumped at the close in one minute, after no volume for 3-4 hours... and that news link to the EGOH news is not dated on the website, like it was rushed, and the posts to the link deleted and undeleted.
Today's news (unless no one saw it yet), should have run this up over .02 on a day like today!
I was expecting that, with the heat wave increasing demand this summer 20%
LOL, the Obama game should be far more entertaining! LOL
News fro CHK CEO, as he attacks radical environmentalists!
http://news.ino.com/headlines/?newsid=6898074817473711
A little something to read while slowly die of boredom here, LOL:
http://blog.managingautomation.com/channel/2011/09/online-ghg-data-could-spark-new-sustainability-strategies/?utm_source=newsletter&utm_medium=email&utm_content=Todays+Featured&utm_campaign=DNA
China RTO short seller crocks are about to get their clocks cleaned!
Two of them are fighting back hard, and taking no prisoners already. I can't help but wonder if VV is also AL, one of the guys that first attacked ABAT, on Seeking Alpha? VV has only writen 4 articles, 3 taking short positions and tossing mud at ABAT. The other was CCME. I have been following about 12 of the stocks and short writers, I strongly suspect at least 50% of the fraud is the shorts / short articles writers themselves.
ABAT should be next to make a stellar comeback IMHO! Just look at these two!
http://ih.advfn.com/p.php?pid=nmona&article=49077809&symbol=DEER
I was told recently by MNLU that there would be no delay getting the fracking crew. They made it sound like the rig and crew was already lined up, waiting on the financing only. I was told the ONLY delay now was financing!!!! That was about 3 weeks ago, chat with Gerry.
Also, there are typically legal contract limits during negotiations that place a gag order on news related to the negotiations, including news that there ARE even any negotiations. Also, you do not PR news that you are quietly spending millions buying cheap leases in the middle of no where (buy low), until you are done buying them.
Does any one here think I might be wrong on the 40 and 50 cent warrants acting as an upside cap on the stock next year? Unless of course there is a buy out at $5/share, in which case the warrants would never get exercised!!!
Don't know the details except that 600,000 dollars was raised of a $2 million dollar capital increase effort. No transparency as to the price paid per share (what are they hiding), which tells me it is BAD news for bag holders.
I would love to know what the rest of the story is on this one!
The title was nothing like the content, sounds like there is a lot of story in the back ground on this one. Also curious how it relates to or affects AXPW.
Interesting new article on Pa, shale NG:
http://seekingalpha.com/article/291156-in-10-years-this-state-will-produce-25-of-america-s-natural-gas?source=email_alternative_energy_investing
DeeDog, FWIW, the MNLU ultra deep NG BP#1 well is already commercially viable with out fracking it, but they will get a lot more, for a lot longer time by doing a vertical frack of this well.
The 1980 Chevron well was not abandoned due to lack of knowledge of Fracking, it was abandoned in 1980 because the pressure, and temperature were way too high for even the best hardware back in 1980, and IIRC they were looking for $50 oil then (just before that bubble busted), not natural gas!
Thanks for the update and reminder. I had always suspected the oil, but Gerry had told me the current well was a dry well, no oil, no condensates, but he and I never discussed the other levels, depths, or that the cores showed oil at other depths!!!!! Confirmation of commercial quantities is good news!
I have been watching Thorium go no where, except for the occasional news buzz for about 5 years. First heard about it in an article in Harvard Technology review about 5 years ago on China plans to build and sell Thorium pebble reactors to home owners for point of use electricity and heat.
Since then Shale NG has closed that door for now. Also there is a new technology out of China now, using a catalytic reactor that converts cheap methanol into H2, hydrogen gas, which TTEG just signed an exclusive marketing deal on. TTEG has a detonation cycle engine (new, patented), that can run on the hydrogen gas (or MNLU NG) to make cheap, clean electric power.
Looking at the last August 2011 filings by EGOH on the OTC system, it looks to me like either Wilmuck, or one of his buds got about 40 million new shares in exchange for retiring a piddling amount of debt (perhaps the CEO paid himself back salary with nearly free shares, to avoid income tax on the new shares, or he paid off a small creditor that was about sue him ), and then sold all or most of his old shares, thus the reason there is no change in stock holders paid in equity, while the OS share balance jumped up another 40 million shares?
I also see significant changes in the outstanding loans and expense debt, but a net increase in the sum on the last quarter, which tells me the extra 40 million shares sold did nothing to help the balance sheet of EGOH!!!!
LOL, I posted there earlier today. Read my posts on that board.
I think cheap NG and the Japan Nuke disaster will keep any new nuke technology on the shelf, even thorium.
BS.
Here is some more balanced reporting on the status:
http://www.guardian.co.uk/world/2011/aug/02/japan-nuclear
Also:
http://www.newscientist.com/article/mg21128283.100-scaremongering-about-fukushima-radiation-is-damaging.html?DCMP=OTC-rss&nsref=online-news
"The author and the previous comments have valid concerns but not a good understanding of radioactivity. First; detection does not mean danger. The granite counter top, the bananas in the basket and the person you sleep next to are all irradiating you. Second; when reporting something like 10,000 milli-sieverts per hour, you must supply a critical piece of information to the reader: the range. On contact, one foot, ten feet? The inverse square law applies, double the distance, quarter the dose."
Source: Planetsave (http://s.tt/12YQO)
My question is, if Thorium reactors are so great, why isn't everyone using them?
I am still watching this one (LTBR), but I suspect with dirt cheap natural gas, that all nuclear power expansion (other than SO's new plants), including thorium are doomed financially in the US for a good while.
That is partly why I have always believed the merger proxy-vote would never happen until the well was producing cash!!!!!
Only then would both sides be assured of a yes majority vote on the merger.
Big money that is buying 10 million dollars at .15 cent/share in the private offering, will not let the retail go under .15, in fact they will try and push it up from here to protect the value of the restricted shares they are and will be buying.
While the price could go under .15 (say the markets sell off 10% in one day in some sort or earthquake panic), this looks like a pretty safe buy the bottom here for a 3 bagger to .40 by year end to me!!!!! It is also a chance to average down for many of us, as weak hands bail out.
But save a little cash in case it does drop to ten cents!
Also the low volume is an indication that the panic sellers have already sold, and there may be a ton of bids waiting now at .15, that may never get filled, but would act as strong support.
The 40 cent warrants, expire 12 months after they are issued. They must be exercised between month 5 and month 12 (after the issue date), or become worthless. Smart investors will not bid the price up over 40 cents during that time, fearing warrant conversion and dilution. I have seen this before where the warrant quantity was huge enough, like the current offer indicates.
On the AEXP issue, the question is will 50.1% (or what ever the required number is, I forget) of the AEXP stock holders vote to approve the merger if the MNLU dilution to raise cash happens. Would a second bidder come in with a better offer for AEXP, claiming that MNLU broke the original merger deal terms, and start a bidding war for AEXP?
Any change in the stock swap ratio might piss off enough of the loosing company investors enough to vote against the merger. But the new investors buying the private offering and insiders will probably control the vote on MNLU's side!
I will go with #3, stupidity, LOL! But it could be someone selling 5000 shares at the low bid to trip stop loss orders to fill their own bid orders for more shares. That is why it is so dangerous to use stop loss orders on penny stocks. The MM's are the only ones that see stop loss orders, and they love to take then out by shorting the stock and grabbing the cheap shares tripped by the sell, so they can turn around and sell them at the ask. I have rarely been able to buy at the bid on this one.
A few months ago some one bought 100,000 shares at .18, and the MM's immediately walked the ask and bid down for the next 3-4 days down to .10/.12 until they scared enough people into selling them enough cheap shares to cover, as the 100,000 share sale at .18 must have been sold short by MM's, and the MM's panicked! This is not a good stock to daytrade, unless you have lots of cash, and know how to manipulate the price like an MM does. But It is one to buy and hold for now when the cheap shares are offered IMHO. If you bought at .16 to .18, do not panic, that is what the MM shark feeds on!
I have been in this stock for 2 years, and my average cost is .18 right now. I am holding out for at least 50 cents to $1 on the next rally, no mater how long it takes.
But don't forget that AEXP failed to deliver the funds it agree to deliver to pay for their portion of the well drilling costs, but then they had a fall back % owner ship if they failed to deliver the cash, which is all mute if the merger goes through. Two sides to that coin. I have not seen a proxy, and I NOW doubt we will see one this month, since they are busy raising cash to complete the well.
I suspect the proxy will not go out until the cash is raised and the well is either completed and making cash, or at least until the well is being fracked and nearing completion.
OMG, the sky is falling, again. Yellow journalism at its finest.
IIRC Cesium has a very, very short half life, and a number like that is meaningless when comparing two different reactions. I doubt the Hiroshima bombs produced much if any cesium, probably because the reaction and process was different, not because the accident was that much worse. That kind of BS journalism is a joke.
They also have a number of other irons in the fire, that could pop anytime.
Lack of bids and somebody bid whacked it to take out stop losses most likely, or an MM grabbing cheap shares if they know news is coming soon. No way to know for sure.
Nice! I still have the shares I bought in 2009 near the bottom
Yes, they are merging. MNLU will survive. The cureent deal is 4 shares of AEXP for 1 share of MNLU. Lots of daily chatter on the MNLU board.
I bought more at Friday's close, and still have all my shares.
One good point is that a loan needs to be repayed in cash. The stock sale does not need to be repayed, which will free up the cash from well production cash to go directly into new wells, expansion of the existing pipeline to handle higher flows from the existing well, and to be able to pay our share of new JV deals to drill more wells, instead of being used to pay off debt.
Don't forget that the CEO of Petrohawk recently committed to spend $1 billion dollars over the next 10 years on science innovation and promotion of new and expanded uses of natural gas in the USA.
We are just coming out of the recent death valley of natural gas. It may be bumpy for a while longer, but this one still has huge potential, as does NG from this point. This is a good time to buy the survivors that are not already over priced.
I will be adding to my share count.
Also, what happens to the book value once the reserves status changes to proven reserves? Does that push the stock price way up past the warrant prices, or attract a takeover candidate?
Not that it matters, but I think they could have borrowed some secured debt, cash, but I suspect they decided the secured debt route would have tied too many hands on the next steps (bankers were asking for too much for too little), such as drilling some cheaper wells in Louisiana next, and signing JV deals with others next for wells on any of the properties they hold leases on. Also the banksters may have had issues with the incomplete merger, that depends on how the investors in both companies vote!!!
WE should be asking ourselves what happens in about 3-4 months when $500,000/month of cash flow hits the bank monthly from a completed and connected well.
%500,000/month divided by 160,000 million shares (after the merger, and yes I made some CRUDE (LOL) assumptions there), works out to about 3.7 cents per share in revenue per year. A PR of 20 (assuming the next step is expansion of the pipeline to accommodate the wells true capacity, not that the current pipeline can only handle part of the wells capacity), would be 74 cents a share.
PE calc would be a little more complicated, and has some unknowns, like depreciation, so I used PR number, price to revenue.
Geo, Gerry told me about 6 months ago, that the actual well site is high and dry, even during the recent record flooding. He said the access road was the problem, and that it is easily washed out in the kind of record flooding we had this year. He also said the pipeline we will tie into is high and dry.
What we all need to do is to combine our various different bits on knowledge, experience and know how together and trade like a wolf pack (LOL, sorry Pigroast), and Ihub seems to be a great place for sharing.
My original them goes back to the 1980's when I traded on technology and science breakthroughs, cutting edge environmental companies, and buying distressed stocks that were trading at 5-10% of book value. One was a huge NH. Power and light company, and another was a huge Texas bank. I got about 2% of my investment back on those 2, as they both were bought out for almost nothing days before bankruptcy would have finished them off. One was bad oil and gas loans (Texas Bank) the other was political fight where Gov. Ducaucus in the state next to NH refused to issue a start up safety permit, and so a 3 billion dollar nuclear plant was never turned on!!!! The depreciation losses ruined the power company. I have plenty of my own scars including being way too deep in the market when it crashed in 1987. But I have had my successes as well. Buying SIRI at .12/share was one of them.
But regarding geology and bank balance, those are just parts of the puzzle. We also need to watch the world wide market cycles, less we get our arses handed to us on a day when the market drops 20% in one day. I know, I was there. I spend a great part of late 2008-2010 studying charts and market cycles.
I am now in for a penny in for a pound with AEXP and MNLU, but I now worry a little bit more about their financial prowess, as they should have raised the money, or some of it, with a stock offer when the stock was at $1, not now. I think the Japan Earthquake and market sell off, and nervousness, caught them off guard. Raising money now, in retrospect is the worst time. At least they had the balls to realize the mistake and take there licks here and now, while they can still save the company and the existing investors investment.
I do not expect to see a 5 to 10 bagger here now, not this year, but I do have high hopes that this is the bottom (if they actually raise the cash). I think it could easily get back .40 and stay there, but retail will not push it higher until those warrants expire, or they get exercised in which case another $$25 million in cash would hit their bank to fund other wells, and the price could move up to 50 cents, then repeat, and once all the warrants are gone, we will see a possible 10 bagger, but that may take 2 years unless something else happens!!! Then once that happens we start moving higher.
I told you all this was coming:
http://marketbrief.com/carbon-sciences-inc/d/form-d/2011/8/31/9007224/filing
Now we get to guess as to what price they paid for those shares, and how many shares got added, and they still only sold 1/3 of the new private offer, which we were not offered.
Is there more than one way to get to the site?
My last chat with Gerry, and some one else's recent chat with the CEO, both said the only hold up now was the financing, which we have details and expectations on now. I know we heard a few months ago parts of the road were washed out, and needed to be filed in, but there was no mention of a bridge ever in the past.
It was my understanding about 7-10 days ago (from Gerry) that once the well is in production, Guggenheim can JV and finance expansion based on proven reserves. The hang up here is the reserves are not yet proven (producing). Guggenheim is already an 8% partner on the current well. They have very deep pockets!
Good news today:
Where did you here this?
"now..the ground is still not good enough for boots even if they did get funding.. "
I heard other wise from Gerry about 3-4 weeks ago.
That pdf file showed that they have about 6000 investors already. Surely some of them are going to buy into the offer. I will be adding at retail as I am convinced this is a bottom happening right here.
If every investor bought $1670 in new shares at .15 they would have their $10 million.
Oh, and by the way, how many times have you seen an offer like this offered to the retail, existing investors, before it was a done deal? Tells me they care about the existing investors enough to let us know the offer is on the table, even if it is a private offering.
Web site is working fine. Gmail is free, with a huge MB capacity. I don't see an issue. I use multiple email addresses, including gmail for work all the time.
http://www.corporationwiki.com/Texas/Amarillo/steven-e-looper/35214267.aspx
http://www.corporationwiki.com/Florida/Tampa/questus-capital-llc-2793808.aspx
http://www.corporationwiki.com/Nevada/Reno/brian-wilmot/30599865.aspx
http://www.corporationwiki.com/Nevada/Reno/eagle-oil-holding-company-inc/62920598.aspx
http://www.egvr.com/
http://www.corporationwiki.com/Texas/Texas-City/eagle-environmental-technologies-ltd/30033897.aspx
One more thought. If I had $1,000,000 to invest in MNLU, I would not invest it at retail. The 90 day average volume is 156,000 shares per day at .30 per share, 90 day average. Chances of buying $1,000,000.00 of shares at retail for .15 are slim to none, with the time line to well completion and cash flow involved!!!
At that rate, it would take 47 days for me to by every share sold at 156,000 shares per day, to buy 6.66 million shares at retail, at the average price. 4 months ago the 90 day average was 60 cents a share. So buyers that want any quantity of ultra cheap discounted shares will buy the offer. They will not try to buy retail at .15 in any volume, as that kind of volume would run the price back up to $1/share very quickly.
Once they buy all those cheap shares, they will not be able to sell for what looks like at least 4 months, so they will then buy retail shares and boost the price back to .40 (to protect their investment), and by the time they are ready to sell (if any sell) the well will be producing cash flow, fluff PRs will abound, JV's will be debated, and the stock will hold steady, unless one of them dumps a lot of shares at that point.